![]() Customers’ strong reception to the Company’s expanding general merchandise offering further buoyed results, with assortment expansion driving sales growth at or above 30 per cent for its lifestyle and baby categories.”Ĭommenting on the results, CEO Heather Reisman stated: “As a business, we were relentlessly focused on evolving and driving performance – which together with Canadians’ affinity for the Indigo brand – yielded the beginning of improved results. Demand in the Company’s core book business notably lifted by eight per cent, fueled by the popularity of reading on TikTok. “Demonstrating evolving omnichannel behaviours, Indigo’s digital platforms are also increasingly where customers begin product discovery, bolstering in-store conversion. Specifically, the online channel sustained incremental growth of 98 per cent to fiscal 2020 sales levels. ![]() ![]() Revenue growth was driven by the success of Indigo’s omnichannel business, with the first good push of recovery delivered by the Company’s retail channel and an ecommerce business that nearly doubled since the onset of the pandemic. “The success of the Company’s product strategy and strong revenue performance drove the Company’s return to profitability, with adjusted EBITDA of $32.5 million and net earnings of $3.3 million, an improvement of $60.8 million and $61.2 million, respectively. These results were achieved amidst challenging operational and market conditions that included rolling store closures in the Company’s first quarter and the re-emergence of severe pandemic conditions from the Omicron wave during its seasonally important third quarter,” it said in a news release. “These top-line results also outperformed the preceding three fiscal years including the pre-COVID year. Indigo at CF Rideau Centre (Rendering: Indigo) Revenue increased $157.6 million or 17.4 per cent to $1.06 billion from $904.7 million last year. In June, Indigo reported financial results for the 52-week period ended Apcompared to the 53-week period ended April 3, 2021. Small format stores are typically located in retail shopping centres, street-front retail areas, major airports and central business districts,” says the company on its website. “Averaging over 22,000 square feet, Indigo’s large format stores are designed to be destinations for culture-seekers, offering an inspiring environment conducive to browsing and community-building. It also operates a popular online destination offering millions of products including books, eBooks, toys, stationery, home décor, gourmet confections, electronics, and more. Headquartered in Toronto, Ontario, it employs approximately 5,000 people across Canada.Īs of April 2, it operated 88 superstores under the banners Chapters and Indigo and 85 small format stores, under the banners Coles and Indigospirit. ![]() Indigo Books & Music Inc., as it exists today, was created in August 2001 with the merger with Chapters Inc. The first Indigo location opened in Burlington Ontario in 1997, created with the desire to bring a unique cultural destination to the Canadian retail marketplace. ![]()
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